Arizona
Obamacare Plan To Jump By 116 % When Premiums Go Up ... - (www.cbslocal.com) The
Department of Health and Human Services revealed Monday that premiums for a
midlevel benchmark plan will increase an average of 25 percent across the 39
states served by the federally run online market, and that about 1 in 5
consumers will have plans only from a single insurer to pick from,
after major national carriers such as UnitedHealth Group, Humana and Aetna
scaled back their roles. However, in Arizona, unsubsidized premiums for
a hypothetical 27-year-old buying a benchmark “second-lowest cost silver plan”
will jump by 116 percent, from $196 to $422, according to the administration
report.
What
the Heck is Going on with Rents? - (www.wolfstreet.com) But
beneath the surface, a sea change is underway. Zumper: Among the top ten rental
markets, we saw declines in both of the most expensive markets, San Francisco
and New York, a trend that continued from last month, and half of the twenty
priciest saw falling rents, including cities like San Diego, and Miami, and
Honolulu. The market for two bedroom apartments seems to be slowing down even
faster, as prices fell in nearly 60% of rental markets. All heck is breaking
loose in San Francisco… But not because the economy has tanked in the most
ludicrously expensive rental market in the US, which it has not. Enormous
supply is flooding the market, thanks to a historic construction boom not only
of apartment towers but also of condo towers, whose investor-owned units, now
that selling them has become tough, are appearing on the rental market.
Tronc
Trumbles After Gannett Terminates Acquisition – (www.zerohedge.com) Ultimately,
Tribune's, pardon, Tronc's management and shareholders turned out to be too
greedy for their own good. After Gannett had made two previous offers to
acquire Tronc, the publisher of such newspapers as the Los Angeles Times, the
Chicago Tribune and the Baltimore Sun, one in April for $12.25 a share and a
second in May for $15 a share - both of which were rejected by Tronc’s board
rejected both as too low and not in shareholders’ best interests - the two
companies ultimately agreed on a $18.75 take out price. Alas, it was not meant
to be and as we reported last week citing a Bloomberg article, the banks that were
supposed to provide the debt financing for the transaction, pulled out "over concerns about the health of the two companies’
businesses at that valuation."
So, after Gannett had been trying to buy Tronc for months to create a company
with the scale to compete more aggressively with online news sites for national
readers and advertisers, moments ago Gannett announced in a tersely worded
press release that its was terminating discussions to acquire Tronc.
Slide continues for junk bond ETFs - (www.ft.com) Two
of the largest junk bond exchange traded funds suffered their fifth straight
day of losses on Monday, as last week’s sell-off in government bonds and the
drop in oil prices reverberate across credit markets. The slide has knocked the
biggest high-yield bond ETF — BlackRock’s $16bn iShares HYG — 1.6 per cent
since it touched a record peak of $87.42 on October 24. The five-day decline is
the ETF’s longest losing streak since May. State Street’s $11bn high-yield ETF
— known by the ticker JNK — has slipped 1.7 per cent over the same
period.
The pair’s losses come after global government
bond markets were rattled by
rising inflation expectations last week. Yields on benchmark 10-year
Treasuries, which rise as the bond price falls, climbed to the highest level
since May on Thursday.
Credit
indicators flash as world runs out of dollars - (www.telegraph.co.uk) Credit
analysts are becoming nervous about the spread between Libor and the overnight
index swap, the so-called Libor-OIS spread that is used to gauge problems in
the plumbing of the credit system. It has widened to 38 basis points, near
levels seen in the eurozone debt crisis and past bouts of stress. ...
"Something more fundamental is at work. The cost of global capital is
going up, full stop," Mr Jakobsen said. Long-term bond yields are also
soaring as the markets question the logic of a $70 trillion debt edifice priced
on assumptions of a deflationary liquidity trap lasting deep into the 21st
Century. ... Marc Ostwald from ADM said the global dollar shortage is now
palpable. "There is no depth to the market. The transmission mechanism is
still broken and there is a poor level of liquidity as a result of regulations.
Eventually things are going to explode," he said.
South Korea Throws Its Shipbuilders a $9.6 Billion Lifeline
- (www.wsj.com)
Bank of Japan Trims Inflation Forecasts - (www.wsj.com)
Bank of Japan Trims Inflation Forecasts - (www.wsj.com)
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